REFILE-Montier quits SocGen for hedge fund -source

Date: Friday, June 26, 2009
Author: Tom Freke, Reuters

One of London's top analysts, James Montier, has resigned from French bank Societe Generale (SOGN.PA) to join a hedge fund, a source with knowledge of the situation said on Thursday.

The source did not say which hedge fund has employed Montier, recently voted best strategist in the Thomson Extel survey, alongside colleague Albert Edwards.

The pair joined Societe Generale from Dresdner Kleinwort in December 2007 as co-heads of global strategy.

In the Extel survey, Societe Generale was named best economics and strategy house for the third year in a row.

London-based Montier, who has written a number of books on behavioural finance, hit the headlines in June when he criticised the efficient market hypothesis, the theory that a price encapsulates all known information. The hypothesis has inflicted "massive amounts of damage" on the money management industry, Montier wrote.

Societe Generale could not immediately be reached for comment.